RentCafe brings a more flexible and rewarding ​​replacement for traditional security deposits

RentCafe is introducing a modern replacement for traditional security deposits, in partnership with Obligo. ​​RentCafe Deposit gives renters more control over their move-in costs and eliminates any hassle that may come with paying a deposit. 

Security deposits are often one of the largest upfront expenses when signing a lease. With ​​RentCafe Deposit​​​,​ renters can choose from flexible options to secure their home​​​​*​​ directly through RentCafe instead of locking up a large sum of cash. It’s a welcome update for anyone preparing to move or looking to better manage their budget. 

Why ​​RentCafe Deposit’s security deposit replacement​​​​ ​​is good news for renters 

This service is designed for today’s renters​ ​who want to manage their money more wisely and avoid outdated processes. Instead of paying a large upfront sum by check or certified funds, Obligo offers personalized, flexible,​ ​​digital options that can process right from your phone. 

You can easily sign up in your RentCafe account once your apartment lease application is approved. That means no bank visits, no checks, and no waiting weeks (or months) to get your money back when you move out.​ P​lus, these options are eligible for RentCafe Rewards!​​  

Instead of a one-size-fits-all ​security ​deposit, Obligo offers personalized options based on your eligibility and lease details: 

• No Deposit: Skip the traditional deposit entirely. You pay a non-refundable fee instead of a lump sum to keep the bulk of your money at move-in.

• Full Deposit: Pay the full amount through Obligo ​​AND​​​ ​earn interest on eligible funds while they’re held. 

• Reduced Deposit: Pay a smaller amount upfront than the standard requirement​ ​and a non-refundable fee.

• Deposits-in-Installments: Spread your payments over time instead of paying everything at once. ​F​ee​s apply. 

Each option available to you is clearly presented during the sign-up process, so you can review the details and select what works best for your situation. 

A smoother move-in and move-out 

The benefits of ​​choosing to replace your traditional security deposit with ​​RentCafe ​Deposit ​don’t stop after move-in. 

Traditional security deposits can sometimes mean waiting weeks for funds to be returned after moving out, along with uncertainty around deductions. With ​​RentCafe Deposit options from Obligo, everything is handled digitally through your account, offering a more streamlined and transparent experience. 

If there are no move-out charges, you’ll simply receive confirmation that nothing is owed. If move-out charges do apply, you repay Obligo, with full visibility into and flexibility during the process. 

What’s more, participating property managers go through a qualification process intended to support fair treatment and clear communication with residents. 

How to ​​replace your traditional security deposit ​​with RentCafe 

Once your apartment lease application is approved, the service* will appear as an option in your RentCafe account during your move-in steps. 

From there, setting it up is easy. You’ll receive clear instructions along the way, and everything can be completed online in just a few steps.  

You’ll go through a quick eligibility check using a secure banking connection​, or a soft credit check​,​ and receive your options instantly.​​​​ ​​​​From there​​​​, ​​you select the deposit option that works best for your lease and complete your sign-up. 

​​​More benefits: ​​RentCafe rewards you for ​​replacing your security deposit​​​​     ​​ 

If you’ve signed up for the RentCafe Rewards loyalty program, you can earn points when you use RentCafe Deposit!  ​​ 

Those points can be redeemed for gift cards, dining experiences, merchandise, travel perks, and many other perks. It’s another way RentCafe helps renters get more value from everyday expenses. 

Read more about RentCafe Rewards and how to join.   

By offering options beyond the traditional deposit model, RentCafe gives residents greater control over their move-in costs, without adding complexity to the process. Explore your options directly through RentCafe, and don’t forget to check out other convenient services for your move-in, including electricity or flexible rent payment options. 

*Available to applicants and residents at select properties.